Share Market HIGHLIGHTS: Sensex makes a big U-turn to end 591 pts below day's high, Nifty sinks below 17,050
Share Market Today HIGHLIGHTS: Indian equity benchmarks Sensex and Nifty50 fell to five-month closing lows on Tuesday, continuing to fall for the fourth day in a row, as most other major markets around the globe weakened amid persistent fears about contagion from the Silicon Valley Bank (SVB) collapse.
Divgi TorqTransfer Systems debuted on bourses BSE and NSE mildly higher than the upper end of its issue price. The stock closed the listing day with a gain of 2.6 per cent. Read more on Divgi IPO listing
Catch highlights of the March 14 session in the Indian share market, market commentary and analysis only on Zeebiz.com's blog here, besides the views of Zee Business Managing Editor Anil Singhvi and other experts, stocks to buy and trade recommendations:
Share Market Today HIGHLIGHTS: Indian equity benchmarks Sensex and Nifty50 fell to five-month closing lows on Tuesday, continuing to fall for the fourth day in a row, as most other major markets around the globe weakened amid persistent fears about contagion from the Silicon Valley Bank (SVB) collapse.
Divgi TorqTransfer Systems debuted on bourses BSE and NSE mildly higher than the upper end of its issue price. The stock closed the listing day with a gain of 2.6 per cent. Read more on Divgi IPO listing
Catch highlights of the March 14 session in the Indian share market, market commentary and analysis only on Zeebiz.com's blog here, besides the views of Zee Business Managing Editor Anil Singhvi and other experts, stocks to buy and trade recommendations:
Latest Updates
Share Market Update | Broad-based losses continue on Dalal Street; Nifty PSU Bank remains top loser among sectoral gauges
Global Market LIVE | European shares continue to fall amid weakness in banking stocks thanks to SVB collapse
European shares begin the day in the red amid sustained weakness in banking shares across the globe, even as US President Joe Biden vowed to take action to ensure the safety of the US banking system, after the sudden collapse of US-based startup lender Silicon Valley Bank.
The pan-European Stoxx 600 index is down 0.3 per cent at this hour.
Share Market Update | Sensex, Nifty50 sink to 5-month closing lows as market bleeds
The Sensex finishes the day with a loss of 337.7 points or 0.6 per cent at 57,900 — shedding close to 2,450 points in four back-to-back sessions, and the Nifty50 settles at 17,043.3, down 111.00 points or 0.7 per cent from its previous close.
Both indices hit their lowest closing levels recorded since October 13, 2022.
Here's how the Sensex and the Nifty50 moved through the day:
Sensex
Nifty50
Read more on the March 14 session
Share Market Tips LIVE | Buy Vedanta, sell City Union Bank, says Shilpa Rout
Shilpa Rout of Shilpa Rout Prabhudas Lilladher shares two trade recommendations:
- Buy Vedanta for targets of Rs 289 and Rs 292 with a stop loss at Rs 276
- Sell City Union Bank for a target of Rs 128 with a stop loss at Rs 135
Sensex LIVE | Titan, IndusInd, Sun Pharma, ICICI Bank the only gainers in 30-scrip basket
Sensex LIVE | 30-scrip gauge slides over 750 pts from day's high as market bleeds
The Sensex slides to as low as 57,721.2, shedding more than 750 points from its strongest level of the day: 58,491.
Nifty LIVE | Headline index slides below 17,000 mark for first time in five months
The 50-scrip gauge slides as much as 167.2 points — or one per cent — to 16,987.1, cracking below the psychologically-important 17,000 mark for the first time since October 13, 2022.
This private bank's shares have doubled investors' money in six months — Is it a good time to book profit?
South Indian Bank shares have doubled in value in six months. ICICI Securities is bullish on the private sector lender citing its revamped business model that is producing positive results. The brokerage believes an improving profitability trajectory will continue for the Kerala-based lender.
Global Market News | US megacap tech stocks-heavy Nasdaq Composite set to continue upmove on Tuesday
The Nasdaq Composite — where Apple, Microsoft and Amazon together have a weightage of 30.5 per cent — bucked the overall negative trend on Wall Street on Monday, closing with a gain of 50 points or 0.5 per cent at 11,188.8.
However, persistent weakness in banking stocks dragged the Dow Jones and the S&P 500:
- Dow Jones: down 90.5 points or 0.3 per cent at 31,819.1
- S&P 500: down 5.8 points or 0.2 per cent at 3,855.8
Concerns remain among investors globally about contagion from the collapse of Silicon Valley Bank, following its sudden shutdown on Friday after a failed capital raise. The latest turmoil in the US share market comes at a time when investors are already worried about the prospect of higher-for-longer benchmark interest rates.
Gobal Market LIVE | Dow Jones, S&P 500, Nasdaq Composite futures up 0.2-0.3%, indicate a positive start ahead in US stock market
The futures of three main Wall Street indices — the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite — hold on to the green in Asian trade. Here's what the contracts look like at this hour:
- Dow Jones futures: up 78 points or 0.3 per cent at 31,908
- S&P 500 futures: up 9.3 points or 0.2 per cent at 3,866
- Nasdaq Composite futures: up 21.3 points or 0.2 per cent at 11,953
Share Market Tips LIVE | Sell Wipro shares, says Nilesh Jain
Nilesh Jain of Centrum Broking suggests selling Wipro shares for a target of Rs 368 with a stop loss at Rs 385.
Divgi IPO Listing | Divgi TorqTransfer Systems barely in premium zone vs issue price
At this hour, the new kid on the block, Divgi TorqTransfer, is trading at Rs 594 apiece on BSE and Rs 595.1 apiece on NSE — a premium of one per cent over the upper end of the issue price.
Stock Market Tips LIVE | Buy United Spirits Ltd (USL) shares, says Nilesh Jain
Nilesh Jain of Centrum Broking shares one 'buy' call with Zee Business viewers. He suggests buying United Spirits shares for targets of Rs 780 and Rs 790 with stop loss at Rs 748.
Share Market Tips LIVE | Mehul Kothari recommends buying Sun Pharma Rs 980 call option at Rs 10, target Rs 18
Mehul Kothari of Anand Rathi Shares & Stock Brokers shares two trade calls:
- Buy the Rs 980 call option of Sun Pharma at Rs 10 for a target of Rs 18 with a stop loss at Rs 5
- Buy the Rs 470 put option of HDFC Life at Rs 9.5 for a target of Rs 18 with a stop loss at Rs 4
Kothari also has a 'buy' on the 17,200 call option of Nifty50 at Rs 45-50 for a target of Rs 100 with a stop loss at Rs 20.
Macro Data | Wholesale inflation eases to two-year low of 3.85% in February vs 4.73% in previous month
Read more on wholesale inflation